I want to appy for an auto loan, what should I know/take with me so I am sure to come prepared?

I am looking to apply for an auto loan and need about $9000. I only began trying to establish my credit 10 mo. ago so I don't think I have very much of it. I am going to be looking at different lenders, and can put down a $1500 payment. What do I need to know and bring with me so I am totally prepared? Because my chances aren't tooo great for getting loan with a decent interest rate in the first place... I want them to know I'm serious and have checked all my bases. Thanks!

I want to appy for an auto loan, what should I know/take with me so I am sure to come prepared?
Auto finance is what I do for a living and auto loans are based on the following factors;





1. LTV (loan to value).


2. Term requested.


3. Age of vehicle.


4. Miles on vehicle.


5. Down payment.


6. Time at job.


7. Time at residence.


8. Monthly income before taxes.


9. Credit score/profile.


10. Total debt to income ratio.





As far as what you will need to take with you, take your most recent paycheck stub, drivers license, proof of insurance, phone bill, proof of residence and 6 references (names, addresses and phone numbers).





As long as the above numbers are submitted to the lender in accordance with their guidelines, you should not have a problem getting approved.
Reply:I think these are some useful sites: http://autoloanguide.automobil... Report Abuse

Reply:Are you a first time buyer? Don't show them your cards right away. Downpayment is good because you'll most probably get a lower monthly payment. Be cheap. I mean, if they ask you how much can you afford monthly, think as low as you can, like "I can afford $150/month" but it depends on the value of the car. Don't show them that you are eager to buy a car and that you have a downpayment. Make sure you have your driver's license, your paycheck (just in case), insurance card and i think that's it. Remember that the ball has to be in your court. Good luck!
Reply:You can apply for an auto lone online at this site:


http://www.1-800badcredit.com/first-time...





Try this - it will make the hassel from shopping all go away
Reply:first check your credit reports and your scores before


you even go shopping. Make sure that the information


is correct and accurate. You need to know your Score


so that you have some idea what the interest rate


range should be.
Reply:A loan application is a lot like a job application. You'll need references and your personal information. Your previous job information.





You'll need your current wage data and work address. Your bank accounts and credit card balances. Your monthly expenses (rent, utilities, bills). All of this will determine your ratios.





They will run a credit check on you to get your credit score. This will determine your credit worthiness and set your interest rate.





Based on what they see the bank will then determine how much they will lend, how long the terms will be and what the interest rate will be.
Reply:take your last three check stubs and also your last years tax return. show that you have a savings account and checking account , this is only if you are going to a bank. if you go to a car dealership than they do all the work for you, they check your credit history and find a bank for you that will finance the loan, and since you are putting money down than it really shouldn't be a problem, as far as your interest rate that all depends on your credit report, so take a cosigner that has a good credit rating
Reply:People-to-People Lending. It's an old idea that's new again


.


People who need money request it, and other people bid for the privilege of lending it to them. Prosper makes sure everything is safe, fair and easy.





Until now, financial institutions have controlled who is able to obtain credit and the rates people pay, over time, this one-sided control has bred inefficiencies and excessive margins – leading to higher rates for borrowers, and restricting people who have money to lend from entering and generating income from this vital and lucrative market.





Prosper gives people the opportunity to take back the marketplace for consumer credit, Prosper aims to make consumer lending more financially and socially rewarding for everyone by letting the borrowers set the maximum rate they are willing to pay a lender, which prevents the loan from being funded at a rate higher than the borrower wants to pay.








http://www.prosper.com/join/GlobalFundin...
Reply:interest?: 5% - 7% is good.


I found interesting information about your answer %26amp; options here. Goodhttp://all-debt-consolidation-loan.blogs... luck!
Reply:First off, it would be a good idea to run a credit check of your own to make sure that there are no delinquencies or problems and to check your credit score. You are entitled to one free credit report from each of the three credit agencies once a year. You can go to www.annualcreditreport.com to download those.





Second, if you are a member of credit union or have a credit union that you can join, I would start with them to get an auto loan. They have much better rates. You will need to bring your driver's license and social security number so that they can run your credit check.





You should also check with your bank to see what kind of rates you can get through them. Good luck!